Transition from Cash basis of accounting to Accrual basis of accounting using Oracle E-Business suit

Department of Finance - abu dhabi Government is planning to initiate project to transition from Cash Basis of Accounting to Accrual Basis of Accounting:

following is the system requirements:

1) Budgeting on Cash/Expense  Basis (Current Status) 

2) Budgetary Control - Absolute  with Amount_type = YTD , Boundary = Year

3) Procurement on Asset Account

4) Invoiceing on Asset Account  

5) Mass Addition executed against the above (4) invoice

6) Asset Accounting performed

following Solution is proposed :

1) Summary account is created with  following Child Accounts

      (a) Expense Account

      (b) Asset Clearing Account

      (c) Asset Cost Account

2) Budgetary Control is setup on above summary account (1) with Absolute,    Amount_type = YTD , Boundary = Year